4 big analyst picks: Rivian sheds Underperform rating on upbeat headlines By

Here is fx foreign exchange trading websiteyour Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Rivian Automotive, Advanced Micro Devices, Transocean, and Simon Property Group.

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Rivian upgraded at DA Davidson

DA Davidson upgraded (NASDAQ:) to Neutral from Underperform and raised its price target to $18.00 from $11.00 amid a series of positive news surrounding the company.

Shares gained more than 22% this week due to several positive catalysts, including better-than-expected Q2 deliveries, Amazon.com (NASDAQ:) deploying its first vans in Europe made by Rivian, marking its first commercial shipments outside the U.S., as well as the DA Davidson upgrade.

The firm said Rivian's entry into Europe with van deliveries was expected eventually, but that it came "far earlier than we anticipated." It added:

While 2Q deliveries were short of our model, they beat consensus expectations (a low bar, in our view). The recent ABRP acquisition adds new capabilities and valuable data as well.

Advanced Micro Devices upgraded to Outperform

Northland Capital Markets upgraded Advanced Micro Devices (NASDAQ:) to Outperform from Market Perform with the price target of $150, acknowledging they have been wrong on the stock.

Despite a delayed upgrade, the firm anticipates AMD shares to receive an AI multiple and estimates a ramp of GPU revenue from the MI 300 and El Capitan supercomputer in the second half of the year.

According to the firm, AMD's open-source software approach and broad AI IP portfolio, encompassing GPUs, CPUs, FPGAs, and ASICs, could erode NVIDIA's (NASDAQ:) software moat and enable AMD to cater to diverse AI workloads.

2 more upgrades

Transocean (NYSE:)shares surged more than 5% yesterday after Citi upgraded the company to Buy from Neutral and raised its price target to $9.50 from $6.50, as reported in real time on InvestingPro.

Wolfe Research upgraded Simon Property (NYSE:)to Outperform from Peerperform with a price target of $127.00. Shares are up nearly 1% pre-market today.

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